GIS market size estimated to reach $11.2 Billion by 2025

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The global geographic information system (GIS) market is expected to grow to USD 11.2 billion by 2025, as per a new report by Grand View Research. The rising adoption of GIS in infrastructure development, urban planning, and smart cities coupled with increasing location-based services are some of the key drivers of the GIS market.

GIS

Multiple decisions are taken using GIS, including tracking a store location, predicting climate change and analyzing a crime pattern. GIS helps users to link the data with geographic location to gain spatial insights from the data that has been fetched.

The increasing integration of GIS with conventional technologies has enhanced the business intelligence of companies. In addition, the integration of GIS with IoT devices provides accurate data to users using the geospatial data analysis. For example, an IoT-enabled valve can be monitored from anywhere around the globe using geospatial data.

The market for GIS is expected to grow over the forecast period due to rapid technological advancements and innovations. Also, the rising awareness among private companies regarding benefits such as improved productivity and optimization of processes offered by GIS has resulted in increased demand for the technology.

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Companies in the private sector use the geographic information system for applications such as mining, oil & gas, transportation & logistics, defense equipment and much more.

 

Read Also:  Equity market sustains uptrend with a gain of 0.76%

SOURCE: Geospatial World

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